Big news in the Dallas County monthly housing update for December, sparked projections for similar results in surrounding DFW counties.
Enter Denton County, where the closing amount declined from $450,000 to $443,749 month over month in December 2022.
While this amount might seem like a modest decline, it's a significant step in adjusting seller expectations while increasing affordability for purchasers.
Throughout Q3 and Q4, Denton county continued to see rising listing amounts, despite mortgages becoming less affordable. This creating a challenging climate for purchasers.
It appears that sellers are beginning to adjust their expectations, however. With days on market increasing from 43 to 56 days in December, properties are sitting on the market significantly longer than this time last year.
2,498 listings were on the market at the end of December- representing a 220% increase YOY. While rates might be higher, there is no question that purchasers have dramatically more inventory to sift through and analyze.
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